Wain Estates has sold three warehouses at Carrington Gateway in Greater Manchester to Cabot Properties for an undisclosed price.
The units are currently let on long term leases by Hilti, Protective Packaging and Charles & Ivy. Wain Estates has retained three units at the site offering 44,000 sq ft of space – Colliers and JLL are joint letting agents on the units.
Jack Brister, managing director of development at Wain Estates, said: “This is a very positive endorsement of the quality of the product we’ve created in the first phase of commercial development at the Carrington Estate.
“It is particularly encouraging given that we are currently making plans for future commercial phases at Carrington. We wish Cabot all the best with the management of the site.”
Michael Williams of Cabot Properties added: “We are delighted to have concluded this transaction on behalf of our value fund programme. It’s a well-located asset with strong ESG credentials and a favourable occupational dynamic in the locality. We are continuing to actively seek both core and value add opportunities to build upon our existing portfolios in the UK.”
JLL acted for Wain Estates and B8 Real Estate acted for Cabot on the sale.
